12056 Cradock St · Spring Hill, FL 34608

$234,900

2 bd · 2.0 ba · 1,096 sqft · SingleFamily public records · 125 Days on market

Built 1986 10,000 sqft lot Est $249k · 6% under

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.3/30.0
• ARV discount +10.0/15.0
• DSCR +4.3/10.0
• Schools +4.2/10.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CUTE AS A BUTTON 2/2/1 IN A GREAT LOCATION! As soon as you walk thru the front door you are surrounded by beautiful newer travertine floors that flow through the living room, dining area and kitchen giving you a nice open concept. The bedrooms are finished with beautiful modern wood laminate flooring. The inside of the home has been freshly painted and is clean as a whistle. The screened in lanai has beautiful views of the private backyard, which is partially fenced. The seller is also offering the cleared vacant lot next door for an additional purchase price of $15,000. This would give you almost a 1/2 acre to have all for your own! NO HOA. Bring the RV or the boat. This home has been in the same family since it was built! Sellers have only used the home for a few months each year for the winter, It has been gently used and well taken care of and it shows! Comes partially furnished. Don't wait this home will not last! Conveniently located to shopping, medical facilities, restaurants!

Key facts

• Newer roof
• Travertine tile
• Newer sliders

Tags

• NEWER ROOF
• NEWER WINDOWS
• NEWER SLIDERS
• TRAVERTINE TILE
• VAULTED CEILINGS
• LARGE PANTRY

Property features AI

Finance

• Other: Property is homestead exempt; Zoned residential (RES)
• Financial info: No lease restrictions reported
• HOA & community: No HOA association indicated; Pets allowed: cats and dogs

Exterior

• Parking: Driveway; Attached garage (1 car)
• Security: No specific security features listed
• Utilities: Public water; Septic tank; Cable available and connected; Electricity available and connected; Underground utilities; Water available and connected
• Home design: Single-family residence; North-facing; One story; Completed condition
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built and maintained as a residential property
• Exterior features: Covered, enclosed and screened patio/porch areas; Front porch; Rear porch; Patio; Sliding doors; Private mailbox; Irrigation equipment; Mature landscaping; Landscaped and paved lot; In county lot

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Travertine
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; High ceilings; Open floorplan; Living room / dining room combo; Split bedroom layout; Vaulted ceilings; Walk-in closets; Window treatments; Blinds
• Laundry & utility: Washer hookup; Dryer hookup (electric); Laundry area in garage

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $42 ($506/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (22.1% below list).
• Recommended offer: $183k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.4% in Spring Hill — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 63/100 on livability (#738 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: health & safety C-, employment D+, amenities F.
• Hernando (suburban): math 50% / reading 50% proficiency, ranked #38 of 73 in FL (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.7%/yr); 381 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,505 units permitted in Hernando County in 2024 (318 in 5+ unit buildings).
• This rent runs 34% of the median local income ($64k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Hernando County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $155k; list at $235k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,089 (22.1% below list)

Questions for the listing agent

1. It's been on market 125 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.78% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $248,792
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5391 Pillar Ave	0.19mi	2/2.0	1,159 (+6%)	3mo	$198,000	$171	79
5414 Pillar Ave	0.22mi	3/2.0 (+1)	1,151 (+5%)	2mo	$290,000	$252	75
5108 Elwood Rd	0.59mi	2/2.0	1,105 (+1%)	8mo	$210,000	$190	64
11323 Elgin Blvd	0.51mi	2/2.0	1,020 (-7%)	1mo	$225,900	$221	64
5269 Mariner Blvd	0.40mi	3/2.0 (+1)	1,008 (-8%)	1mo	$245,000	$243	62
5236 Derby Ave	0.65mi	2/2.0	1,050 (-4%)	1mo	$225,000	$214	62
11493 Sheffield Rd	0.25mi	2/1.0	940 (-14%)	7mo	$217,500	$231	55
11259 Elgin Blvd	0.61mi	3/2.0 (+1)	1,066 (-3%)	9mo	$239,900	$225	54
5419 Elwood Rd	0.71mi	2/2.0	1,143 (+4%)	7mo	$259,000	$227	54
5400 Mariner Blvd	0.44mi	2/1.0	966 (-12%)	2mo	$195,000	$202	54
5435 Birchwood Rd	0.31mi	3/2.0 (+1)	1,245 (+14%)	9mo	$325,000	$261	50
12349 Corrine Ave	0.54mi	2/1.5	943 (-14%)	4mo	$227,500	$241	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.1%
• Equity multiple: 0.38×
• Total profit: $-40,849
• Equity at exit: $35,024

10-year hold

• IRR: -16.5%
• Equity multiple: 0.19×
• Total profit: $-53,280
• Equity at exit: $20,310

Cash invested: $65,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 34608

• Home prices YoY: -24.7%
• Rents YoY: -0.7%
• Active inventory: 381
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,831 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$74 /mo · $894/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $42

Break-even live

Break-even rent $1,777

Max offer price $234,900

Occupancy floor 93%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5294 Fairhaven Ave Spring Hill, FL	2.0	2.0	1105	$1,600	$1.45	24d	1	0.12mi
12095 Elgin Blvd Spring Hill, FL	3.0	2.0	1284	$1,849	$1.44	24d	1	0.19mi
11349 Sand Hill Ave Spring Hill, FL	3.0	2.0	1473	$2,500	$1.70	2d	1	0.47mi
11201 Kangley Ln Spring Hill, FL	2.0	2.0	1105	$1,695	$1.53	4d	1	0.66mi
4518 Yorkshire Ave Spring Hill, FL	2.0	1.5	1119	$1,600	$1.43	24d	1	0.76mi
4503 Higate Rd Spring Hill, FL	2.0	2.0	1025	$1,495	$1.46	24d	1	0.78mi
12454 Seagate St Spring Hill, FL	3.0	2.0	1114	$1,735	$1.56	24d	1	0.86mi
13097 Scottville St Unit 1234463P Spring Hill, FL	3.0	2.0	1463	$3,890	$2.66	1d	1	1.05mi
6289 Mariner Blvd Spring Hill, FL	3.0	2.0	1212	$1,850	$1.53	17d	1	1.25mi
5038 Ayrshire Dr Spring Hill, FL	3.0	2.0	1418	$1,850	$1.30	21d	1	1.31mi
4253 Central Park Dr Spring Hill, FL	2.0–3.0	2.0	1107	$1,445	$1.31	1d	8	1.39mi
10436 Keystone St Spring Hill, FL	2.0	2.0	1289	$1,841	$1.43	1d	1	1.39mi
2459 Landover Blvd Spring Hill, FL	3.0	2.0	1139	$1,900	$1.67	21d	1	1.50mi

Listing history 13 events

1. 2026-05-05
   status Pending
2. 2026-04-22
   status Active
3. 2026-03-31
   status Pending
4. 2026-03-06
   status Active
5. 2026-01-03
   status Pending
6. 2025-12-12
   status Active
7. 2025-12-12
   status Pending
8. 2025-10-07
   listed $234,900 Active
9. 2020-03-23
   soldstatus $154,900 999-char remark

   Show marketing remark (999 chars)

   CUTE AS A BUTTON 2/2/1 IN A GREAT LOCATION! As soon as you walk thru the front door you are surrounded by beautiful newer travertine floors that flow through the living room, dining area and kitchen giving you a nice open concept. The bedrooms are finished with beautiful modern wood laminate flooring. The inside of the home has been freshly painted and is clean as a whistle. The screened in lanai has beautiful views of the private backyard, which is partially fenced. The seller is also offering the cleared vacant lot next door for an additional purchase price of $15,000. This would give you almost a 1/2 acre to have all for your own! NO HOA. Bring the RV or the boat. This home has been in the same family since it was built! Sellers have only used the home for a few months each year for the winter, It has been gently used and well taken care of and it shows! Comes partially furnished. Don't wait this home will not last! Conveniently located to shopping, medical facilities, restaurants!

10. 2020-03-23
    soldstatus $154,900 999-char remark

    Show marketing remark (999 chars)

    CUTE AS A BUTTON 2/2/1 IN A GREAT LOCATION! As soon as you walk thru the front door you are surrounded by beautiful newer travertine floors that flow through the living room, dining area and kitchen giving you a nice open concept. The bedrooms are finished with beautiful modern wood laminate flooring. The inside of the home has been freshly painted and is clean as a whistle. The screened in lanai has beautiful views of the private backyard, which is partially fenced. The seller is also offering the cleared vacant lot next door for an additional purchase price of $15,000. This would give you almost a 1/2 acre to have all for your own! NO HOA. Bring the RV or the boat. This home has been in the same family since it was built! Sellers have only used the home for a few months each year for the winter, It has been gently used and well taken care of and it shows! Comes partially furnished. Don't wait this home will not last! Conveniently located to shopping, medical facilities, restaurants!

11. 2020-03-11
    listed $139,900 999-char remark

    Show marketing remark (999 chars)

    CUTE AS A BUTTON 2/2/1 IN A GREAT LOCATION! As soon as you walk thru the front door you are surrounded by beautiful newer travertine floors that flow through the living room, dining area and kitchen giving you a nice open concept. The bedrooms are finished with beautiful modern wood laminate flooring. The inside of the home has been freshly painted and is clean as a whistle. The screened in lanai has beautiful views of the private backyard, which is partially fenced. The seller is also offering the cleared vacant lot next door for an additional purchase price of $15,000. This would give you almost a 1/2 acre to have all for your own! NO HOA. Bring the RV or the boat. This home has been in the same family since it was built! Sellers have only used the home for a few months each year for the winter, It has been gently used and well taken care of and it shows! Comes partially furnished. Don't wait this home will not last! Conveniently located to shopping, medical facilities, restaurants!

12. 2020-03-11
    listed $139,900 999-char remark

    Show marketing remark (999 chars)

    CUTE AS A BUTTON 2/2/1 IN A GREAT LOCATION! As soon as you walk thru the front door you are surrounded by beautiful newer travertine floors that flow through the living room, dining area and kitchen giving you a nice open concept. The bedrooms are finished with beautiful modern wood laminate flooring. The inside of the home has been freshly painted and is clean as a whistle. The screened in lanai has beautiful views of the private backyard, which is partially fenced. The seller is also offering the cleared vacant lot next door for an additional purchase price of $15,000. This would give you almost a 1/2 acre to have all for your own! NO HOA. Bring the RV or the boat. This home has been in the same family since it was built! Sellers have only used the home for a few months each year for the winter, It has been gently used and well taken care of and it shows! Comes partially furnished. Don't wait this home will not last! Conveniently located to shopping, medical facilities, restaurants!

13. 2013-11-05
    soldstatus $25,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $894 · $74/mo
• Projected year-2 tax: $1,950 · $162/mo
• Expected delta: +$1,056/yr (+$88/mo · 118.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,971
• − Mortgage interest: −$13,158
• − Property taxes: −$894
• − Insurance: −$1,174
• − Repairs & maintenance: −$1,758
• − Management: −$1,758
• − Depreciation: −$6,833
• Taxable loss: −$3,604
• Est. tax savings @ 24.0%: +$865
• After-tax cash flow: $1,371/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Hernando
• NCES district ID: 1200810
• Math proficiency: 50% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $41,985
• Composite: 42.03/100
• National rank: #3329
• State rank: #38 of 73 in FL

Livability — Spring Hill

• Score: 63/100
• State rank: #738
• US rank: #15937

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment D+ Housing A+ Health & safety C- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring Hill, FL
• County: Hernando County · 169,677 people
• City population: 83,915
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 36,658
• Household income: $64,345
• Rent vs Own: 19.6% rent · 80.4% own
• Severe rent burden: 647.0

Population outlook (Hernando County) Hauer SSP2

• Today (2025): 189,218 people
• By 2030: 194,367 · +2.7%
• By 2040: 203,398 · +7.5%
• By 2050: 209,589 · +10.8%
• By 2075: 218,452 · +15.4%
• By 2100: 205,923 · +8.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 18% Two or more races 11% Black 4% Asian 2%
• Hispanic origin (detail): Puerto Rican 9% Cuban 3%
• Common ancestry: Slovak 4% Romanian 3% Lithuanian 3%
• Foreign-born: 9% · Canada, Jamaica, China
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Hernando

• 2024 margin: Solid R (+37.0) · D 31.1% · R 68.2%
• 2008→2024 swing: -33.5pp toward R · 2008: -3.6pp · 2024: -37.0pp
• All cycles: 2024: R+37.0 2020: R+30.2 2016: R+29.0 2012: R+8.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.94%
• Current HPI: 305.1933
• Rent YoY: ▼ -0.68%
• Metro: Tampa-St. Petersburg-Clearwater, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+839.6% since first listed

13 events — show timeline

• 2026-05-05 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-22 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-03-31 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-03-06 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-01-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-12-12 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-12-12 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-10-07 Listed $234,900 Stellar MLS as Distributed by MLS Grid
• 2020-03-23 Sold (MLS) $154,900 St. Augustine and St. Johns County Board of REALTORS®
• 2020-03-23 Sold (MLS) $154,900 HCAR
• 2020-03-11 Listed $139,900 St. Augustine and St. Johns County Board of REALTORS®
• 2020-03-11 Listed $139,900 HCAR
• 2013-11-05 Sold (Public Records) $25,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $894 · +2.4% YoY. Source: county tax records.